Wynn Resorts and real estate developer Related Cos. have revealed details about their ambitious $12 billion project to develop Hudson Yards West in Manhattan, which includes a casino hotel. A notable feature of the development plan is a 5.6-acre public park set to serve as the “centerpiece” of the project. According to the companies, if approved, this development could generate thousands of well-paying union jobs.
A rendering of Wynn New York City, envisioned as a casino resort and mixed-use development on Manhattan’s West Side, was released to showcase more specifics of the $12 billion endeavor. The joint project aims to transform the Western Rail Yards area with an integrated resort that includes 1,500 new housing units, of which 324 will be affordable apartments, as well as a new K-8 public school. However, critics recall that in 2009, Related promised to deliver between 3,454 and 5,700 housing units when it initially agreed to the development of Western Rail Yards with New York City.
Despite the allure and scale of the proposed casino hotel, featuring a tower emblazoned with the Wynn name, the project has faced opposition. A newly formed community group, the High Line, has voiced concerns aimed at preserving the historic New York neighborhood and its renowned vistas. Some politicians are also wary, believing their constituents see a gaming venue as an unwelcome addition to that particular part of the city.
Related and Wynn emphasize several benefits tied to their project, both economically and otherwise. They highlight Hudson Green, the prospective name for the park, as a major selling point. The companies described the park as featuring “a dog run, over 300 trees, 500 shrubs, flower beds and various native plantings throughout the active landscape,” and compared it to the city’s iconic Bryant Park. The park, and indeed the entire property, would be masterfully designed by Wynn Design and Develop, the creative team behind the luxurious aesthetics of Wynn’s casino hotels.
“Wynn New York City will anchor the development, completing a decades-long revitalization of Manhattan’s West Side. This new vision for Hudson Yards West adheres to the approved uses in the 2009 zoning but has also evolved to reflect the city’s current landscape and economic infrastructure needs. Wynn New York City is the economic engine supporting the development and will create careers for thousands of New Yorkers while offering significant benefits to all sectors of the community,” the companies stated in a press release.
Amidst this backdrop, New York regulators have yet to initiate the bidding process for the three downstate casino permits expected to be awarded. That process is anticipated to extend well into 2025 or possibly beyond.
The companies are keen to highlight the economic benefits of their proposal, pointing to job creation as a pivotal advantage. New York, struggling with budgetary woes, might find this particularly appealing. Related and Wynn projected that constructing Wynn New York City would create 35,000 construction jobs, while operations of the venue could add another 5,000 permanent union jobs. This influx of jobs could boost income tax collections in a state heavily reliant on that revenue source.
“It’s easy for leaders to talk about wanting to create jobs and invest in the economy and infrastructure, but our proposal to develop Hudson Yards West would actually do it, which is why it continues to garner important support from unions, trade organizations, and small businesses,” Related President Bruce Beal stated.
